Korea Minerals Co., Ltd announced that it expects to receive KRW 4.5 billion in funding from Korea Electric Power Industrial Development Co., Ltd.
February 11, 2015
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Korea Minerals Co., Ltd. announced a private placement of 742,084 shares at KRW 6,064.003535 per share for gross proceeds of KRW 4,500,000,000 on February 12, 2015. The company will issue the shares at a discounted price. The transaction will include participation from existing investor, Korea Electric Power Industrial Development Co., Ltd. On closing, the investor will increase its stake from 49% to 74.6% stake in the company. The payment date for the transaction is March 13, 2015. The transaction has been approved by the board of the directors of the investor. The transaction is subject to final evaluation value and the approval of the court process.
On March 13, 2015, the company announced the amendment in the investment date. The new investment date for the transaction is March 27, 2015. The investor will hold 1,150,084 shares post-closing.
On March 27, 2015, the company announced that the payment date for the shares has been revised to April 30, 2015.
On April 30, 2015, the company announced that the payment date for the shares has been revised to June 31, 2015.
Korea Electric Power Industrial Development Co., Ltd is a Korea-based company engaged in the power business. The Company operates in six businesses: meter reading and bill delivery business provides services, such as reading and recording electricity meters, delivering electricity bills and managing delinquent customers; power plant business operates and maintains coal transport facilities, coal treatment facilities, desulfurization facilities and ash treatment facilities for coal-fueled power plants; environment business operates flue gas desulfurization systems, discharges wastewater and recycles fly ash facilities; power cable site business secures the land for transmission towers and power-transmission lines, and compensates for such utilities; building leasing business constructs and runs multi-purpose buildings and puts upper floors of the buildings on lease, as well as facilities construction business constructs power generation and transmission facilities.
KOREA ELECTRIC POWER INDUSTRIAL DEVELOPMENT CO., LTD 
